Gold hits over three-month high on dollar weakness, Treasury bond buyback plans
Gold prices rose to its highest in over three months, supported by a weaker U.S. dollar and the U.S. treasury's recent buyback announcement
TL;DR
- Gold prices reached their highest in over three months on Tuesday.
- A weaker U.S. dollar and Treasury bond buyback plans are supporting gold prices.
- Spot gold gained 0.6% to $4,677.19 per ounce, and has gained over 15% this month.
- Silver prices also saw an increase, with spot silver gaining 0.4% to $69.19 per ounce.
- Investor focus is on the upcoming speech by U.S. Fed Chair Warsh ahead of the Jackson Hole Symposium.
- A hawkish speech could halt the gold rally, while a dovish surprise could be very bullish for gold.